Fastned Reports 140% Growth During Quarter 1 (Year Over Year)‬

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‪The Netherlands-based plug-in electric vehicle fast-charging firm Fastned has reported a first quarter (2018) growth of around 140% (year on year, or YoY), according to an email sent to CleanTechnica.‬

‪To provide specifics here, the email stated that Fastned’s volume grew by 148%, that its revenue grew by 140%, and that customer numbers grew by 136% (all YoY as compared to the first quarter of 2017.)‬

‪The figures that those percentages relate to are: a total fast charger usage volume of ‬483,487 kilowatt-hours (kWh) during the first quarter; total first quarter revenue of €210,962; and a customer base of 8,303 during the quarter.

In addition to those numbers, the email notes that Fastned opened 3 new fast charger stations based around a new design, raising the firm’s total fast charging station network number up to 66. In addition to those 66 stations, it should be realized that the firm is working to finish 12 more stations in the Netherlands and 18 in Germany.

The email provides a bit more: “Fastned installed next generation fast chargers at 4 stations, allowing electric vehicles to charge up to 175 kW and even 350 kW; up to 100 times faster than at home.

“During the first quarter 30% of all Fastned stations have passed the operational break-even point. This means that all operational costs associated with these stations are covered with revenues generated at those same stations.

“Fastned lost a court case in which we raised the question if the State is allowed to give out permits for the placement of charging poles at service areas to petrol stations that didn’t participate in the public tender procedure for charging stations at service areas along national highways in 2011. Fastned has filed an appeal to this ruling.”

In addition to those developments, the firm has also reportedly come to terms with the supermarket chain Albert Heijn to pilot fast charging stations at 3 of the stores in question. Further expansion is planned if this pilot goes well.

Also noteworthy is that Fastned is now pursuing a €30 million funding round (private placement) with the investment bank Lincoln International — the goal of which is to develop 80–100 new fast charging stations with the money. Once completed, that would mean that the Fastned fast charging network would comprise more than 200 stations (and possibly more than 1000 charging points).

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James Ayre

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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